South Africa

South Africa is the most industrialized economy in Africa, with a nominal GDP of approximately USD 405 billion (2023) and a population of around 60 million. The country has a GDP per capita of approximately USD 6,700, and the official currency is the South African Rand (ZAR).

The economy is driven by mining, manufacturing, financial services, agriculture, and tourism. South Africa holds some of the world’s largest reserves of platinum group metals, gold, manganese, and chromium, making mining a critical export sector. The services sector contributes over 60% of GDP, supported by a well-developed banking and financial system.

South Africa’s exports totaled approximately USD 120 billion, including minerals, metals, vehicles, agricultural products, and machinery, with key trade partners being China, the European Union, the United States, and India. The country also plays a central role in regional trade integration within Southern Africa.

Despite challenges such as energy supply constraints, unemployment, and inequality, South Africa is investing in energy transition, infrastructure development, industrial revitalization, and logistics modernization. As a BRICS member, South Africa serves as a strategic gateway to Africa, facilitating investment flows, industrial cooperation, and continent-wide economic integration.